The 30-share index was trading 202.93 points, or 0.50 per cent, higher at 40,672.71.
US crude exports fell nearly 1 million barrels last week to 2.4 million barrels per day.
According to industry experts, the companies could find it difficult to comply with these norms.
Weakening of the US dollar vis-a-vis other currencies and easing crude oil prices restricted the fall, forex brokers said.
The broader NSE Nifty briefly reclaimed the 12,000 level, before finishing at 11,966.05, showing a gain of 48.85 points, or 0.41 per cent.
The 30-share index rallied to trade 332.85 points, or 0.83 per cent, higher at 40,581.08 in afternoon session.
The fall in crude oil futures was mostly due to trimming of positions by traders, in line with weak global cues, analysts said.
The dollar index, which gauges the greenback's strength against a basket of six currencies, fell by 0.07 per cent to 97.91.
Tech Mahindra, Yes Bank, Infosys, Vedanta, M&M and L&T too fell up to 1.13 per cent.
US crude inventories rose by 4.3 million barrels in the week ended Nov 1 to 440.5 million barrels.